General
Nigerian Lawmakers Asked $150m Bribe in Crypto—Binance Executive Gambaryan

By Dipo Olowookere
One of the Binance executives detained by the Nigerian government last year, Mr Tigran Gambaryan, has alleged that a few members of the House of Representatives demanded bribe to the tune of $150 million in cryptocurrency from the crypto exchange.
In a lengthen post on his page on X, formerly known as Twitter, on Friday, he confirmed reports of bribery against the Nigerian officials, who met with employees of Binance in 2024.
Recall that Mr Gambaryan regained freedom last year after several months in detention after he honoured an invitation from the federal government through the Office of the National Security Adviser (ONSA), headed by Mr Nuhu Ribadu.
Binance was accused of being used to manipulate the local currency, the Naira, and was forced to delist the currency from its platform, especially for peer-to-peer (P2P) trading.
Narrating what transpired when he engaged Nigerian officials, Mr Gambaryan alleged that Mr Ribadu, who once headed the Economic and Financial Crimes Commission (EFCC), also wanted money from Binance to pursue his future political career, probably the highest political office.
Below is his unedited narration;
The DSS was involved in the House of Representatives matter. We met with them at their office on Friday, January 5, 2024, as a prerequisite to our meeting with the House of Representatives. They alluded to the fact that we had to comply with whatever the House members instructed us to do.
At the House meeting, there were three members present. Two of them were Peter Akpanke and Philip Agbese, both working under the leadership of Ginger Obinna Onwusibe. There was a third House member, but I don’t recall his name. They set up fake cameras and media to make the meeting appear official, but the cameras weren’t even plugged in. As you may already know, this ended with them asking for a $150 million bribe, paid in cryptocurrency into their personal wallets. A Mickey Mouse operation at its best.
@NuhuRibadu invited us to the official meeting and worked through Sa’ad Abubakar. Another key figure in this situation was Hamma Adama Belloji. Ogunjobi was just a pawn; they used him too. This was a sold as a friendly meeting with the NSA, the head of the SEC, and the CBN governor and include the discussion of the bribe that was solicited by the house of representatives.
The $26 billion figure they kept pushing publicly as some mystery money escaping Nigeria is complete BS. This information was provided in response to their request and was simply cumulative trade data for Nigerians on the platform. This money didn’t leave Nigeria—it was just people buying and selling crypto. For example, if you trade $100 a hundred times, that’s $10,000 in trade volume, but in reality, you only used $100. Again, just another example of them lying to cover up their BS investigation.
They lied about Nadeem escaping during mosque prayers. In reality, he returned and escaped afterward. I don’t know exactly how he managed to flee. He emailed me in November, but we haven’t discussed the details of his escape. It’s possible he paid someone off, but I have no proof. If Belloji had simply checked his passport for a visa, he would have realized that Nadeem did not use that passport to travel to Nigeria.
They sent a letter to the U.S. Embassy and the British High Commission, falsely claiming that we were voluntarily participating in strategic talks. This was a blatant lie.
Nadeem did not escape lawful detention—we were being held illegally. Belloji even admitted that he would fabricate evidence to obtain a court order to detain us for 14 days. Once the court order expired, they were unable to get an extension from the judge. At that point, they continued holding us illegally and had no justification for doing so.
There was a lot of noise about using Interpol to capture Nadeem. As someone who has been involved in multiple extradition cases, I can confidently say this was a joke. Extradition is a lengthy legal process, and no rational judge in Kenya or wherever would ever approve extradition for someone who escaped illegal detention at the hands of rogue law enforcement—especially when that detention involved holding employees hostage to pressure their employer. All noise.
They tried to use us to violate international privacy laws by demanding user data on all Nigerians to target opposition members allegedly “manipulating the price of the naira.” However, they all knew that the naira’s devaluation was a direct result of Tinubu’s monetary policy, which depegged the naira from the dollar. I’m not saying this policy decision was wrong, but everyone understood that removing government intervention would lead to extreme devaluation. Instead of acknowledging this, they used Binance as a scapegoat.
They also detained innocent EFCC detectives who weren’t even present when Nadeem “escaped.” If anyone should have been detained, it was Belloji, for multiple basic law enforcement failures, incompetence, and negligence- including:
.Failing to search our belongings
.Not checking passports for visas
.Neglecting to coordinate with immigration to issue travel restrictions or alerts
.Mismanaging the situation internationally, creating an unnecessary diplomatic crisis
We had a strong working relationship with Nigerian law enforcement, but their greed destroyed all cooperation between Nigeria and the entire industry.
They even threatened administrators at Nizamiya Hospital, instructing them not to admit me when I was extremely ill. Additionally, they pressured the hospital to withhold my medical records from my attorneys. This was later confirmed by the Turkish Ministry of Health when my friend met with their officials in Turkey.
Ribadu emphasized that he wanted billions in payouts to fund his future political ambition. However, when the corruption scandal came to light, he was trapped—because any settlement would now be perceived as a bribe. I guess he really wanted his boss’ job 🙂
Ribadu even hired a U.S. law firm to negotiate my release, but this failed due to their incompetence and greed. Looking at you Idayat Hassan.
Ribadu overstepped his authority and embarrassed Nigeria in front of U.S. National Security Advisor Jake Sullivan. Ribadu acting like an asshole angered the White House and led to diplomatic repercussions—the U.S. limited visas to the Nigerian delegation for UNGA, and Biden refused to meet with Tinubu until my situation was resolved.
In the end, Ribadu overestimated his influence. They thought they could secure a quick win, but instead, they created an international incident, exposing his incompetence on a global scale.
That’s it’s for me for now. I don’t want to dwell on this, but it’s important for Nigerians to get the facts. I met amazing people in Nigeria. It’s a shame that these muppets are in charge.
General
Obasa Makes First Appearance at Lagos Assembly After Impeachment

By Adedapo Adesanya
Mr Mudashiru Obasa made his first appearance at the Lagos State House of Assembly complex on Thursday, February 27, 2025, after he was impeached as the Speaker on January 13, 2025.
The former speaker entered the chamber flanked by armed and uniformed security operatives, who ushered him into the premises.
Business Post reports that Mr Obasa was welcomed with an ovation by his supporters and well-wishers
The politician was welcomed at the entrance gate of the Assembly Complex.
The 40-member House removed the Agege I representative as Speaker by more than two-thirds of the house over alleged misconduct and corruption offences.
Mr Obasa’s then deputy, Mrs Mojisola Meranda, was immediately elected the new Speaker, becoming the first female to take charge of the legislative body in the South-West state.
With her emergence, Mrs Meranda, who represents Apapa Constituency I, ended the 10-year reign of Mr Obasa on the seat.
Mr Obasa was first elected into the House in 2007. He has been in the chamber since then. He emerged as a speaker in June 2015 before his removal in January 2025. He is believed to have the strong support of President Bola Tinubu, who reportedly asked for his return and the resignation of Mrs Meranda.
It is not immediately clear what the next development will be with his return to the chamber, but Mrs Meranda has about 36 members of the state parliament as loyalists. They have all supported and passed a vote of confidence on her, insisting that Mr Obasa has no room to return to the position despite claiming he was not lawfully removed from office.
Last week, some agents of the Department of Security Services (DSS) and legislative workers clashed in the chambers.
The incident led to 36 lawmakers passing a vote of confidence in Mrs Meranda, who was teary-eyed.
Meanwhile, the police had earlier allegedly withdrawn all the escorts attached to the speaker.
General
EFCC Laments Crypto Funding of Fraud Syndicates’ Cells

By Adedapo Adesanya
The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, says organised foreign fraud syndicates are establishing cells in Nigerian cities and recruiting youths into serious organised cybercrimes, made easy by cryptocurrencies.
This was disclosed by the anti-graft agency in a statement signed by its spokesperson, Mr Dele Oyewale, on Thursday in Abuja.
Mr Olukoyede said this while receiving participants of the Executive Intelligence Management Course (EIMC) 18 of the National Institute for Security Studies (NISS) on Wednesday in Abuja.
He said the team was led by the institute’s Director of Studies, Mr Hyginus Ngele, to the commission.
Mr Olukoyede expressed surprise at how bandits and insurgents were able to sustain their activities in the country over the years.
He noted with concern, the rate of flow of small arms and light weapons across the borders and the involvement of non-state actors in the illegal exploitation of minerals in parts of the country.
The EFCC boss said all these activities compounded the threats in the security landscape.
“Another dimension that is not given attention is the discovery, recently, that organised foreign fraud syndicates are establishing cells in Nigerian cities.
”They are recruiting young Nigerians into serious organised cybercrimes, including cryptocurrency fraud.
“By the virtue of EFCC’s recent discovery, we are beginning to see the likelihood, the propensity that a lot of these people are into illegal importation of arms into the country using cryptocurrency as means of payment.”
According to him, this is an area that must interest all and sundry.
“In the special operations we carried out in Lagos recently, we arrested 194 foreigners in the heart of Victoria Island.
”They comprised Chinese, Filipinos, Eastern Europeans, Tunisians and among others in one building at a time. You can imagine what these guys are doing, 194 of them.
“Some of them don’t even have valid visas and most of the financial activities they carried out were through cryptocurrency,” he said.
He said the commission also discovered that some of the foreigners arrested were already ex-convicts in their countries.
“Some of them have been convicted and escaped from their countries and found safe haven in Africa, not only Nigeria.
“We discovered that they are also developing cells in some other African countries by virtue of the investigation we are carrying out,” he said.
The EFCC boss called for spirited efforts at both national and continental levels to combat the menace of internet fraud.
He stressed that the money laundering and national security dimension of the presence of foreign organised crime groups demanded close scrutiny.
“All security, intelligence and law enforcement organisations in Nigeria and indeed Africa, must close ranks in dealing with this challenge,” he said.
On his part, the NISS commandant, Mr Joseph Odama, who spoke through Mr Ngele, praised Mr Olukoyede’s leadership of the EFCC for the commission’s “remarkable achievements in combating corruption, money laundering, and other financial crimes.”
He noted that the achievements had not only strengthened Nigeria’s integrity but also served as a model for other nations in Africa and beyond.
He said the EFCC, under Mr Olukoyede, had been at the forefront of investigating and prosecuting financial crimes, including those involving non-state actors.
“Your commission’s exploratory activities have uncovered the intricate networks through which some NGOs and other entities channel funds to support hostile non-state actors, thereby, fueling instability in various parts of the country and the African continent.
“We recognise the critical role the EFCC plays in disrupting these networks and ensuring accountability.
“In light of this, we are particularly interested in hearing your insights on how your commission navigates the complexities of investigating and prosecuting cases involving non-state actors.
“We also seek your contributions on how Nigeria and other African nations can strengthen legal and institutional frameworks to address the challenges posed by these actors while promoting transparency and accountability in their operations.”
General
NSCDC Intercepts 1,571 Litres of Petroleum Products in Zamfara

By Adedapo Adesanya
The Zamfara State Command of the Nigeria Security and Civil Defence Corps (NSCDC) has intercepted 1,571 litres of petroleum products in the Northern state.
According to the security outfit, the products were illegally transported in jerry cans to banditry-prone areas.
The State Commandant, Mr Sani Mustapha, in a statement by the Public Relations Officer of the command, Mr Umar Muhammad, revealed that four suspects were arrested in connection with the crime at two separate locations.
Among them were two filling station pump attendants and two buyers apprehended in the Birnin Magaji and Tsafe Local Government Areas of the state.
Mr Muhammad disclosed that aside from transporting fuel from unauthorised locations, the suspects also violated the Executive Order prohibiting the sale of petroleum products in jerricans within Zamfara State.
He stated that two of the suspects were caught in Birnin Magaji with 1,296 litres of fuel, while the other two were arrested in Tsafe with 275 litres of the product.
“Today, we bring before you four suspects apprehended for illegal dealings of Premium Motor Spirit (PMS) in large quantities, violating the National and State Executive Order of petroleum products sales to retailers in jerry cans,” he stated.
The NSCDC assured citizens that investigations are ongoing and reaffirmed its commitment to enforcing the law to curb illegal fuel diversion and activities that could aid insecurity in the state.
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